melton

3337, Victoria

Real Estate & Property Information

Median
Price Rank
564

melton Suburb Profile & Review

Located in Melbourne's outer-west, Melton was a small farming community before it was declared a satellite city in the 1970s. Housing estates in the area experienced such rapid growth that some of them, such as Kurunjang and Hillside, became suburbs in their own right. Today there are a great many residents who commute into the city for work.

Public transport services are extensive. Melton Station provides V/Line train services to Southern Cross Station on the Ballarat line. Buses connect Melton to outer suburbs such as Sunshine and Caroline Springs, and a shuttle bus travels to the Melbourne Airport. NightRider services extend to the area, so a late night out in the city is always an option.

Families with school-aged children are certainly not lacking for choice; Melton has a whopping eleven primary schools and six high schools, including Kurunjang Secondary College and Melton Secondary College. Woodgrove Shopping Centre, with its seventy-five stores, is the main shopping precinct, and includes a Kmart, Coles, Bunnings, La Porchetta Restaurant and a Readings Cinema. For entertainment, live performances are often held at the Melton Civic Centre and the Tabcorp Park racing complex, which is also the home of Harness Racing Victoria.

melton Demographic Data

$ 256,000 Median House Price

37 Minutes Average Commute

38 Median Age

7,593 Population

51.15 % Female

48.85 % Male

2105 NO OF FAMILIES

1.8 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in melton, Victoria.

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melton Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

melton Median House Prices

  • 2008 $ 182,000
  • 2009 $ 207,001
  • 2010 $ 218,000
  • 2011 $ 250,000
  • 2012 $ 256,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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melton 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in melton have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term melton property price predictions.

melton Market Property Types

  • 85 % Seperate House
  • 4 % Semi Detached
  • 10 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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melton Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

melton Income & Mortgage Stats

  • $ 878 Median Weekly Household Income
  • $ 1,200 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in melton

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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melton Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

melton Sold Property Prices

melton Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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melton Restaurants

  • Thai Delight Restaurant19a Scott St melton VIC 333703 9746 9411
  • Tasty Spicy Red Pepper54 Palmerston St melton VIC 333703 9746 6223
  • Stone Bar & Grill240 High St melton VIC 333703 9743 1477

melton Cafes

  • Sak's1/3,11 High St melton VIC 333703 9743 6616
  • Wooden Spoon CakesShop 3, 255 High Stmelton VIC 333703 9743 3242
  • La Headquaters Cafe318-320 High St melton VIC 333703 9747 6188

melton Schools

  • St. Dominics Primary SchoolChurch Streetmelton VIC 3337(03) 9743 6225Catholic Primary School
  • Melton Specialist School 159-211 Coburns Roadmelton VIC 3337(03) 9743 4966 Specialist School
  • Glenvale School Melton Campus1-3 Killarney Drivemelton VIC 3337(03) 9747 3337Private School

melton Childcare

  • ABC Learning Centre443 High Stmelton VIC 3337
  • Future Kids Child Care8 Sherwin Ctmelton VIC 3337

melton Kindergarten and Preschools

  • Kingsway Preschool1 Kingswaymelton VIC 3337
  • Melton Central Preschool237 Station Roadmelton VIC 3337
  • Melton Pre-school & Kinder31-33 Unitt Stmelton VIC 3337

melton Sporting Centres and Clubs

  • Meltonmelton VIC 3337Golf Driving Ranges
  • Melton Indoor Recreation Resmelton VIC 3337Netball Club
  • Melton Valleymelton VIC 3337Golf Course

Find out How Much your House is Worth in melton

Request a free market Basic Report for melton to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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